parisseine
Short

Brent Crude Oil, Target reached above the 64 handles

OANDA:BCOUSD   Brent Crude Oil
OANDA:BCOUSD

It was quite a long process to cross level 5 I suggested in my previous analysis. Considering the price action since we crossed that breakout level we have had the usual downslope after we crossed that breakout area but we can't see any real drop so far below that level 5.
I am expecting today the quotation to continue is way on the upside with a soft landing to a retracement point with some resistance during that process.
The price action will reach a point in the 64 price range where it will follow the path of least resistance.
My bias is a new Bearish impulse but I keep a Long stance for today until that rejection zone.
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